Accolade Partners Collects Over $1B for Three Funds of Funds

Accolade Partners, an investment firm focused on venture capital, private equity growth and blockchain strategies across the technology and healthcare sectors, revealed it closed on three new funds in 2023 totaling over $1 billion.

Accolade Partners IX, LP, the firm’s ninth combined venture capital and PE growth fund of funds, held a final close at $505 million in May 2023. Accolade Partners Growth III, LP, the firm’s third fund of funds focused on PE growth, closed at $400 million in December 2023. Accolade Partners Venture I, LP, the firm’s first fund of funds focused on venture capital closed at $131 million in December 2023.

The vehicles will be overseen by managing partners Joelle Kayden and Atul Rustgi, partner Aram Verdiyan and COO Andy Salembier.

“The closing of these vehicles demonstrates our consistent and disciplined strategy of building high quality, concentrated, and complementary portfolios within our key sectors of focus,” said Kayden. “Independent thinking combined with reasonable fund sizes ensures that we can continue to generate industry-leading returns.”

The firm said its PE growth effort is focused on minority and control managers investing in bootstrapped, profitable technology and healthcare companies, while the VC fund will concentrate capital in “difficult to access” top-tier select seed and Series A managers.

“The success of our dedicated PE growth vehicles combined with investor demand spurred our decision to launch a venture capital only fund of funds that leverage our access to the top established and up-and-coming managers in the space,” added Rustgi.

Accolade was founded in 2000 and manages approximately $5.8 billion.